{"id":479946,"date":"2021-12-28T17:00:50","date_gmt":"2021-12-28T17:00:50","guid":{"rendered":"https:\/\/wncen.com\/?p=479946"},"modified":"2024-06-11T07:48:47","modified_gmt":"2024-06-11T07:48:47","slug":"why-bitcoin-will-never-surpass-the-market-cap-of-gold","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/why-bitcoin-will-never-surpass-the-market-cap-of-gold\/","title":{"rendered":"Why Bitcoin Will Never Surpass The Market Cap Of Gold"},"content":{"rendered":"<p class=\"p1\">Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as \u2018digital gold\u2019 while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset\u2019s growth.<\/p>\n<p class=\"p1\">Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it seems that Dalio does not believe that bitcoin will replace gold. In a recent <a href=\"https:\/\/www.youtube.com\/watch?v=TISMidxdZoc\" rel=\"nofollow\">podcast episode with Lex Fridman<\/a>, the billionaire investor shares some insight into both assets and why he believes bitcoin cannot surpass gold in terms of market cap.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/by-the-numbers-heres-how-much-bitcoin-michael-saylor-holds\/\">By The Numbers: Here\u2019s How Much Bitcoin Michael Saylor Holds<\/a><\/strong><\/em><\/p>\n<h2 class=\"p1\">$1 Million Bitcoin Is Impossible<\/h2>\n<p class=\"p1\">Talking to Fridman, the billionaire laid out his reasons why bitcoin will be unable to replace gold. He points to the traceability of bitcoin and compared this to gold which he says is untraceable as it is not connected. Furthermore, gold is a universally recognized store of value while only a small percentage of the world is estimated to use bitcoin as an investment and a store of value.<\/p>\n<p class=\"p1\">He explains that gold still maintains the lead ahead of bitcoin which he does not yet believe will become the apex or the universally accepted form of money. Gold, for one, has been around for thousands of years and is still an accepted form of money or store of value.<\/p>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-medium\" src=\"https:\/\/www.tradingview.com\/x\/YkNPrFH6\/\" alt=\"Bitcoin price chart from TradingView.com\" width=\"1345\" height=\"686\"><\/p>\n<pre style=\"text-align: center\">BTC falls to $49K | Source: <a href=\"https:\/\/www.tradingview.com\/x\/YkNPrFH6\/\" rel=\"nofollow\">BTCUSD on TradingView.com<\/a><\/pre>\n<p class=\"p1\">For the reasons that he outlined, Dalio does not believe that bitcoin will ever be able to surpass gold. Furthermore, he explains that he does not believe that bitcoin will reach the price page of $1 million which some bitcoin maximalists have pushed in recent times.<\/p>\n<h2 class=\"p1\">Still A Strong Contender For Gold<\/h2>\n<p class=\"p1\">Dalio did not completely dismiss how valuable bitcoin is though. The billionaire lauded bitcoin by proclaiming that the digital asset has proved itself despite not being able to serve as a currency due to its volatility. The digital asset has proven to be a safe way to invest as it has never been hacked and continues to operate according to its original programming.<\/p>\n<p style=\"text-align: center\"><em><strong>Related Reading |\u00a0<a href=\"https:\/\/wncen.com\/news\/bitcoin\/billionaire-ricardo-salinas-forget-fiat-buy-bitcoin-bitcoin-instead\/\">Billionaire Ricardo Salinas: Forget Fiat, Buy Bitcoin Bitcoin Instead<\/a><\/strong><\/em><\/p>\n<p class=\"p1\">\u201cIt has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people,\u201d said Dalio. \u201dIt has been used and is now obtained the status of having imputed value.\u201d<\/p>\n<p class=\"p1\">The billionaire also revealed that bitcoin ranked highly on his list of assets that he considers to be strong competitors for gold. He still maintains that gold is still his favorite investment but has not written off bitcoin from the running either. A few months ago, Dalio had <a href=\"https:\/\/wncen.com\/news\/bitcoin\/billionaire-ray-dalio-explains-why-he-owns-bitcoin-and-ethereum\/\">revealed<\/a> that he held a small portion of holdings in bitcoin, and had added ethereum to his stash too.<\/p>\n<pre style=\"text-align: center\">Featured image from Bitcoin News, chart from TradingView.com<\/pre>\n","protected":false},"excerpt":{"rendered":"<p>Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. Enthusiasts have finally settled on referring to the former as \u2018digital gold\u2019 while continuing to push that bitcoin will replace gold as the default store of value in the coming years. However, not all bitcoin supporters seem to share this school of thought despite the asset\u2019s growth. Billionaire Ray Dalio is a supporter of bitcoin and has been vocal about his support for the digital asset at various times in the past, but it seems that Dalio does not believe that bitcoin will replace gold. In a recent podcast episode with Lex Fridman, the billionaire investor shares some insight into both assets and why he believes bitcoin cannot surpass gold in terms of market cap. Related Reading |\u00a0By The Numbers: Here\u2019s How Much Bitcoin Michael Saylor Holds $1 Million Bitcoin Is Impossible Talking to Fridman, the billionaire laid out his reasons why bitcoin will be unable to replace gold. He points to the traceability of bitcoin and compared this to gold which he says is untraceable as it is not connected. Furthermore, gold is a universally recognized store of value while only a small percentage of the world is estimated to use bitcoin as an investment and a store of value. He explains that gold still maintains the lead ahead of bitcoin which he does not yet believe will become the apex or the universally accepted form of money. Gold, for one, has been around for thousands of years and is still an accepted form of money or store of value. BTC falls to $49K | Source: BTCUSD on TradingView.com For the reasons that he outlined, Dalio does not believe that bitcoin will ever be able to surpass gold. Furthermore, he explains that he does not believe that bitcoin will reach the price page of $1 million which some bitcoin maximalists have pushed in recent times. Still A Strong Contender For Gold Dalio did not completely dismiss how valuable bitcoin is though. The billionaire lauded bitcoin by proclaiming that the digital asset has proved itself despite not being able to serve as a currency due to its volatility. The digital asset has proven to be a safe way to invest as it has never been hacked and continues to operate according to its original programming. Related Reading |\u00a0Billionaire Ricardo Salinas: Forget Fiat, Buy Bitcoin Bitcoin Instead \u201cIt has proven itself. It has not been hacked, it has operated in an amazing way over that 11 years to be probably the most exciting topic among a lot of people,\u201d said Dalio. \u201dIt has been used and is now obtained the status of having imputed value.\u201d The billionaire also revealed that bitcoin ranked highly on his list of assets that he considers to be strong competitors for gold. He still maintains that gold is still his favorite investment but has not written off bitcoin from the running either. A few months ago, Dalio had revealed that he held a small portion of holdings in bitcoin, and had added ethereum to his stash too. Featured image from Bitcoin News, chart from TradingView.com<\/p>\n","protected":false},"author":541,"featured_media":479948,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[84965,428,5765,1119,2209,84896],"class_list":["post-479946","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-billionaire-ray-dalio","tag-bitcoin","tag-bitcoin-vs-gold","tag-btc","tag-gold","tag-inflation-hedge"],"acf":[],"yoast_head":"\n<title>Why Bitcoin Will Never Surpass The Market Cap Of Gold<\/title>\n<meta name=\"description\" content=\"Bitcoin has been pitted against gold at various turns since the digital asset started going mainstream. 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With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. 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Best is a highly skilled professional with a track record of producing engaging and informative content. With a keen eye for detail and a passion for accuracy, Best is committed to ensuring that each article published meets the highest standards of quality. Best has over six years of experience in the crypto industry and has overseen the creation and publishing of thousands of articles over the years. Best is always abreast of everything that is going on in the crypto industry in order to create and curate the most relevant content for readers. This shines through in Best\u2019s publications, which are always clear and concise, enabling easy reading and understanding for all. Best is also an avid learner and advocate for new technology. This has seen Best dive into topics in areas such as decentralized finance (DeFi), non-fungible tokens (NFTs), Layer 2 blockchains, etc. In addition to this, Best is a vocal member of the crypto community across various social media platforms such as X and Reddit. Best\u2019s work garners tens of thousands of readers monthly, who rely on the information in these publications to keep up-to-date with everything happening in the crypto community. Best\u2019s articles explore breaking news, intricate systems such as yield farming, liquidity pools, and other decentralized finance (DeFi) systems. This is because Best understands the importance of information to gaining financial freedom and believes that everyone should have access to this information. Best also believes in leveraging the blockchain for philanthropy to create the most positive social impact. This involves work with charitable organizations focused on financial literacy and education. With each article, Best lends a voice to important issues such as a more financially inclusive future, transparent systems for growth and development, and technology that is not self-serving but one that serves all of humanity. When not curating engaging content, Best can be found reading a book with a cup of hot chocolate, enjoying a Netflix series, or exploring the outdoors with Green - the world\u2019s most quiet and well-behaved Husky. Best\u2019s interests also span other industries such as art, finance, and security, attending seminars and conferences in not just the crypto industry but other industries as well. As an animal lover, Best is also involved with charities for animals, local shelters, and rescues. Best is also involved in local events that promote inclusivity, such as being a prominent member of hiking clubs and a cycling club, as well as being a part of a very happy group of animal lovers. Best is a true professional in every sense of the word, with an exceptional dedication to producing high-quality work. This shines through in Best's work on and off the clock. These include advocating for inclusive crypto education for all, the impact of financial illiteracy, and the benefits of adopting new technologies such as cryptocurrencies. Best\u2019s prolific career in the media industry is a testament of how hard work and dedication pays.","sameAs":["https:\/\/www.linkedin.com\/in\/best-owie-41a150178\/","https:\/\/x.com\/https:\/\/twitter.com\/BestOwie"],"url":"https:\/\/wncen.com\/author\/owiebest\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"Why Bitcoin Will Never Surpass The Market Cap Of Gold","url":"http:\/\/wncen.com\/news\/why-bitcoin-will-never-surpass-the-market-cap-of-gold\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/why-bitcoin-will-never-surpass-the-market-cap-of-gold\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-and-gold.jpeg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-and-gold.jpeg?fit=1280%2C720"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Best Owie"}],"creator":["Best Owie"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["billionaire ray dalio","bitcoin","bitcoin vs gold","btc","gold","inflation hedge"],"dateCreated":"2021-12-28T17:00:50Z","datePublished":"2021-12-28T17:00:50Z","dateModified":"2024-06-11T07:48:47Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"Why Bitcoin Will Never Surpass The Market Cap Of Gold\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-bitcoin-will-never-surpass-the-market-cap-of-gold\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/why-bitcoin-will-never-surpass-the-market-cap-of-gold\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/Bitcoin-and-gold.jpeg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2021\\\/12\\\/Bitcoin-and-gold.jpeg?fit=1280%2C720\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Best Owie\"}],\"creator\":[\"Best Owie\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"billionaire ray dalio\",\"bitcoin\",\"bitcoin vs gold\",\"btc\",\"gold\",\"inflation hedge\"],\"dateCreated\":\"2021-12-28T17:00:50Z\",\"datePublished\":\"2021-12-28T17:00:50Z\",\"dateModified\":\"2024-06-11T07:48:47Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2021\/12\/Bitcoin-and-gold.jpeg?fit=1280%2C720","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479946"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/541"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=479946"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/479946\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/479948"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=479946"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=479946"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=479946"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}